Summary of Financial Results
Summary of Financial Results for FY2024
Sumitomo Mitsui Trust Group, Inc. (Consolidated)
- Net business profit before credit costs<1> increased by 23.3 billion yen year on year to 362.0 billion yen, due to continued strong performance in trust-related business such as asset management and asset administration, real estate, and stock transfer agency services, which led to an increase in net fees and commissions and related profits, as well as favorable market environment such as the rise in yen interest rates.
- Net income attributable to parent company shareholders<3> increased by 178.4 billion yen year on year to 257.6 billion yen, mainly due to a significant improvement in net gains on stocks, despite an increase in total credit costs year on year.
- Both figures surpassed the full-year forecast announced in January 2025 and achieved record-high profits.
(Billions of Yen)
| FY2023 | FY2024 | Change | ||
|---|---|---|---|---|
| Net business profit before credit costs* | 1 | 338.6 | 362.0 | 23.3 |
| Ordinary profit | 2 | 101.3 | 367.6 | 266.3 |
| Net income attributable to owners of the parent | 3 | 79.1 | 257.6 | 178.4 |
| Total credit costs | 4 | (11.8) | (24.6) | (12.7) |
|---|---|---|---|---|
| Net gains on stocks | 5 | (188.5) | 81.4 | 269.9 |
| Shareholder ROE | 6 | 2.68% | 8.30% | 5.62% |
|---|
(Per share information)
| Earnings per common share (EPS) (Yen) | 7 | 109 | 359 | 250 |
|---|---|---|---|---|
| Net assets per common share (BPS) (Yen) | 8 | 4,316 | 4,354 | 38 |
*Consolidated net business profit before credit costs = Net business profit before credit costs of Sumitomo Mitsui Trust Bank (Non-consolidated) + Ordinary profit of other subsidiary companies (non-recurring effect adjusted) + Ordinary profit of affiliates (non-recurring effect adjusted) x Ratio of equity holdings – Intra-group transaction (dividends, etc.)
<Reference>Sumitomo Mitsui Trust Bank (Non-consolidated)
(Billions of Yen)
| FY2023 | FY2024 | Change | ||||
|---|---|---|---|---|---|---|
| Net business profit before credit costs | 9 | 275.9 | 288.9 | 12.9 | ||
| Net business profit before credit costs | Gross business profit | 10 | 566.1 | 601.1 | 35.0 | |
| Net business profit before credit costs | Gross business profit | Effective interest related earnings (*) | 11 | 289.0 | 376.9 | 87.8 |
| Net business profit before credit costs | Gross business profit | Net fees and commissions and related profit | 12 | 211.2 | 223.4 | 12.2 |
| Net business profit before credit costs | Gross business profit | Net trading profit Net gains on foreign exchange transactions |
13 | 48.1 | 30.7 | (17.3) |
| Net business profit before credit costs | Gross business profit | Net gains on bonds | 14 | 6.3 | (41.5) | (47.8) |
| Net business profit before credit costs | Gross business profit | Net gains from derivatives | 15 | 15.2 | 15.6 | 0.4 |
| Net business profit before credit costs | General and administrative expenses | 16 | (290.1) | (312.2) | (22.1) | |
| Total credit costs | 17 | (11.5) | (23.1) | (11.5) | ||
| Other non-recurring profit | 18 | (205.6) | 44.9 | 250.6 | ||
| Ordinary profit | 19 | 58.7 | 310.7 | 252.0 | ||
| Extraordinary profit | 20 | (3.7) | (5.7) | (1.9) | ||
| Net income | 21 | 57.8 | 239.5 | 181.7 | ||
(*)Including "Profit attributable to deployment of surplus foreign currency funds" recorded under "Net gains on foreign exchange transactions".